The latest figures do emphasisethe big drop-off in house buying that occurred in December as highlighted by the recently released Real Estate Institute of New Zealand figures for the month.

However, the overall tally of mortgages advanced during the month, at $5.371 billion, is in fact up about $300 million on the same month a year ago.

It is, however, down by around $850 million from the amount of mortgages advanced in November.

The FHBs have been gradually building their overall share of the borrowing the in past year – as well as borrowing increasing amounts in actual dollar terms.

In the latest month the $924 million borrowed by the FHBs accounted for 17.2% of the total advanced by the banks, which is a new high in a series that the RBNZ has now been publishing since August 2014.

One noteworthy point in the latest…………

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